Today’s Dollar to Naira Exchange Rate in the Black Market (Aboki Dollar Rate) – November 17, 2024
As of Sunday, November 17, 2024, the exchange rate for the U.S. dollar to the Nigerian naira at the Lagos Parallel Market (commonly known as the black market) shows a buying rate of ₦1,735 per dollar and a selling rate of ₦1,740. These figures are based on information provided by sources within the Bureau De Change (BDC) sector.
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market, as it is considered an unofficial exchange system. The CBN has consistently urged individuals who wish to engage in foreign exchange transactions to do so through their commercial banks, which offer regulated exchange rates.
Official Dollar to Naira Exchange Rates (CBN Rate) Today
For comparison, the official exchange rate set by the Central Bank of Nigeria for the U.S. dollar to naira is as follows:
- Buying Rate: ₦1,657 per dollar
- Selling Rate: ₦1,658 per dollar
However, it is important to remember that the exchange rates available in the black market may differ from those offered by the banks and official financial channels. Rates can fluctuate depending on various market conditions, and the rates presented here are for informational purposes. Always verify the current rates before making any forex transactions.
